Posted on 12/29/2008 6:12:33 AM PST by Liz
Investigators believe Madoff stuffed hundreds of millions of dollars in Ponzi profits into offshore tax havens.....forensic accountants are scouring Madoff's books as federal officials ready an indictment against the hedge-funder, who remains under house arrest. Accountants believe Madoff regularly sent bundles of money to Caribbean and Europe offshore accounts. He has been ordered to provide the SEC a detailed list of his assets - including investments, loans, lines of credit, business interests and brokerage accounts.
(Excerpt) Read more at nypost.com ...
Yup---you nailed it, but good.
Good point.
He and his sons did seem rather relaxed considering the crime they had pulled off. The IRS needs to get on these "investors" like white on rice.
Oy, I've taken a 'loss'. So, off it comes off my taxes.
(2 months later)Oh, look, I've found the money in Israel, Bahamas...(I'll tell the IRS next year)
Cha-ching, 2 billion becomes 4 billion.
What’s your take on all this?
Not my speciality, tax-wise. As an observer, I’d guess that eventually, Madoff and his in-group will still be rich, as some others have said.
Wrong economy to try to pull this scam off - I think many of them are going down - many, many.
I hope you’re right and I’m wrong!
You know as soon as all the corrupt politicians including Obambi were in place they could continue with the next step. It is really suspicious that Hillary and Bill Clinton are still very active in our government. Of course, everyone knows that Obambi and the Clintons work for the same people. Always have. It's just a little to coincidental.
I think all this you know what was planned. Doesn’t it seem odd that the conservatives never had a conservative running for President and a person as questionable as Obambi wins.
We need to laws stipulating that financial fraud on the Madoff level is also prosecutable for endangering US national security.
We need to get a backbone and get rid of all of these politicians.
We need a leader.
Orthodox “beggars” bump.
Liz,
Thank you for your comments.
I am not disputing what you have said. I just found it a tad complicated. In no way am I saying I am right.
Living in Panama and had volunteered my time at a friends law firm translating non-consequential letters from Spanish into English (no gossip in others words), I learned a lot how offshore things work in Panama (and I am not talking about other countries that have different laws). It is all between the lawyer and client and nobody else. Period. Office staff is totally out of it. Good!!!
Further, the lawyer has no legal obligations asking from where the money is coming. The lawyers job is to create an offshore account for the customer. Period.
Liz,
Thank you for your comments.
I am not disputing what you have said. I just found it a tad complicated. In no way am I saying I am right.
Living in Panama and had volunteered my time at a friends law firm translating non-consequential letters from Spanish into English (no gossip in others words), I learned a lot how offshore things work in Panama (and I am not talking about other countries that have different laws) . It is all between the lawyer and client and nobody else. Period. Office staff is totally out of it. Good!!!
Further, the lawyer has no legal obligations asking from where the money is coming. The lawyers job is to create an offshore account for the customer. Period.
Sorry for the double post. I don’t know what happened.
Yes, I know you were speaking from your personal experiences in Panana——thats good to know—we need to have all perspectives.
Thanks. Now I understand why Jews lean Democrat so strongly.
His sons couldn’t have been involved. It took them decades to figure out that their father should go to jail.
I appreciate your reply.
Thank you very mcuh.
My best regards.
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